Some of the most exciting technological advancements in recent years have been in structured query language tools, said Kenny Shin, chief technology officer at Fundrise, a direct-to-consumer alternative asset management company. Despite its decades-old roots, SQL is experiencing a renaissance, driven by advances in SQL tools from a variety of data-related tools.
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“If you look closely at what’s happening, SQL combined with cloud computing, serverless databases, and data warehouses is creating a new set of tools that leverage the ubiquity of SQL but have abstractions that can be leveraged. SQL is much more complex than an individual can responsibly query data sources to create incredibly seamless solutions,” Shin explained in a recent interview with Tech Brew.
What is SQL?
SQL is a standardized programming language designed specifically for managing and interacting with relational databases, where information is stored in interrelated tables. Crucially, SQL works through declarations, allowing users to specify the data they want to retrieve or manipulate without having to detail the procedural steps to perform those operations. It is essential for relational database management and enables tasks such as querying subsets of data, updating records, and managing database structure.
The strength of SQL lies in its ability to handle complex queries over large data sets. It is excellent for efficiently aggregating, sorting, and filtering data that is important for data analytics, business intelligence, and backend system applications for many web services. This syntax is simple for basic tasks, but can be optimized for performance and complex data relationships, making it an indispensable tool for database administrators and developers working with data-driven applications.
recent developments
Historically considered a simple query language, SQL is now at the core of more complex tasks thanks to its integration with modern technologies.
Shin mentioned Dbt, Fivetran, Snowflake, and Looker as new data management technologies implemented at Fundrise.
Dbt makes it easier for users to transform raw data using SQL, and Fivetran simplifies the analysis preparation process by automatically moving data from a variety of sources into your data warehouse. Snowflake is a cloud-based platform that improves data storage and processing in SQL, enabling easy scaling and efficient data management, while Looker extends SQL to provide advanced data visualization and reporting capabilities.
“The productivity we can achieve with these tools is amazing, especially for people who are used to homegrown data engineering environments,” Shin said.
Ultimately, these tools allow organizations to process large data sets faster and more flexibly. It also makes it easier to integrate data from different sources. This is an important capability in an age where data is spread across multiple systems and platforms.
Additionally, the integration of SQL and cloud computing opens up new possibilities for storing and accessing data. Serverless databases and cloud-based data warehouses offer scalability and cost efficiency, making them ideal for businesses that need to manage large amounts of diverse data without the burden of maintaining physical infrastructure.
Funding and DBT: a case study
Fundrise has a variety of data needs, from financial data about investments, assets, and transactions to data about the effectiveness of marketing campaigns.
In a recent article, Charles Wood, VP of Analytics, and Jack Ploshnick, Analytics Manager at Fundrise, explained how the move to Dbt helped them manage this complex array of data.
“Dbt allows us to create new business intelligence dashboards that didn’t exist before,” said Ploshnick. “More importantly, we can spend much less time creating dashboards and more time doing in-depth analysis. “We have more time to answer more difficult and impactful questions.”
Wood added: “There was a huge opportunity cost associated with missing out on the most valuable work that could be done just to keep the system running. Now the time spent on maintenance is close to zero.”
They went on to explain that Dbt enabled the Fundrise marketing team to more efficiently and accurately analyze the impact of advertising in terms of cost versus additional revenue.
“In the past, we had to check every day to make sure our marketing attribution numbers were accurate and that all data was flowing as expected,” says Ploshnick. “If a data source tells us that a particular campaign is effective, we need to spend time verifying that the numbers are actually correct.
“Now there is no work at all. We know our dashboard is accurate. Now the question is why is your marketing program efficient or why is it ineffective? “We can finally focus on those kinds of questions.”
The changes driven by Fundrise’s advanced SQL tools represent a broader shift in the way companies manage their data. Tools like Dbt are transforming labor-intensive data management into a more efficient, automated, and insightful process. As technology improves, companies across industries will increase their ability to leverage these tools, leveraging the full potential of SQL to turn complex data challenges into opportunities for innovation and growth.
